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Home Equity

100% flexibility to pay for major purchases. Compare our popular home equity loans.

Overview

  • Introductory rate of 5.99% APR on New Home Equity Lines of Credit for 6 months then as low as 8.50% variable APR.1
  • Allows you to borrow funds using the equity in your home, up to 90% of the value of the home
  • Required monthly payments are interest-only

A Good Option If:

  • You want to have funds available for unexpected emergencies
  • You want to consolidate other loans or credit cards, finance home improvements, purchase large-ticket items, or pay for major expenses
  • You want the flexibility of using the funds only when and if you need them
Home Equity Line of Credit 6-Month Intro Interest Rate 6-Month Intro APR Interest Rate  APR  Points 
Home Equity Line of Credit 5.99% 5.99% 8.50% 8.50% 0.000

Rates are based on an evaluation of credit history, combined loan-to-value ratio, loan term, and occupancy, so your rate may differ. Not all applicants will qualify for the displayed lowest rates. The term is 25 years, consisting of a 10-year draw period with interest-only payments followed by a 15-year repayment period with principal plus interest, which may increase your monthly payments. The Introductory Annual Percentage Rate (APR) of 5.99% is for new Home Equity Lines of Credit only and is for the first six months. HELOC modifications, renewals and increases that utilize the same property are not considered new and are not eligible for the introductory rate. To receive the Introductory rate, a draw of at least $10,000 must be made within 30 days of account opening. After the introductory rate expires, balances will be charged at the variable APR based upon the Prime rate as published in The Wall Street Journal plus a margin. The APR will never be lower than 3.75% or higher than 18%. The stated rate, correct as of July 1, 2024, applies to borrowers with credit scores of 730 or greater, CLTV 80% or less, and owner-occupied single-family residences. Elements Financial will conditionally waive the following Closing Costs associated with your home equity line of credit: flood certification, title search or title abstract, credit report, recording fees, and a simple valuation. You may be required to pay other costs such as taxes, and when required, appraisal fees. However, if you close your home equity line of credit within 36 months after it is opened, you will be required to pay an Early Closure Fee in the amount of the Closing Costs originally waived. These costs vary by state and property type. Elements Financial reserves the right to modify or end this offer at any time. Additional terms and conditions may apply. Subject to credit approval. Elements Financial Membership Required.

Overview

  • Allows you to borrow funds using your home as collateral, up to 100% of the value of the home
  • Get the money you need up front in a lump sum single payout
  • Lock in a fixed rate for the life of the loan with a fixed monthly payment
  • Never worry about the possibility of rising interest rates
  • 10-year and 15-year loan options

A Good Option If:

  • You want to consolidate other loans or credit cards, finance home improvements, purchase large-ticket items, or pay for major expenses or other one-time needs
  • You want predictable monthly payments that stay the same
Home Equity Loan Interest Rate  APR  Points  Monthly Payment
10 Year Fixed 8.590% 8.777% 0.000 $622.00
15 Year Fixed 8.840% 8.977% 0.000 $502.00

Payments shown do not include taxes and insurance premiums. Rates are based on an evaluation of credit history, combined loan-to-value ratio, loan term, and occupancy, so your rate may differ. Not all applicants will qualify for the displayed lowest rates. Annual Percentage Rates (APR), effective July 1, 2024, and example monthly payments are calculated using loan amounts of $50,000, a credit score of 730 or greater and combined loan-to-value of 80% for a single-family residence and estimated closing costs of $622.00 for the 10-year and $502.00 for the 15-year. A loan origination fee of $375 and a title search fee will apply. Additional state or local mortgage fees or taxes may apply. Please consult your tax advisor regarding the deductibility of interest. Programs, rates, terms, and conditions are subject to change without notice.

Overview

  • Fixed Rate Home Improvement Loan — An unsecured loan that provides easy access to up to $25,000 for your home improvement project.

A Good Option If:

  • You need funds specifically for a home improvement project
  • Trade-off: Interest rate can be slightly higher than home equity options

Apply Now

Or Call 1-800-561-9433

Overview

  • Home Improvement Loan 10 Year Fixed and 15 Year Fixed — A secured loan allowing you to borrow up to 133% of the current value of your home (up to $250,000) for your home improvement project.

A Good Option If:

  • You need funds specifically for a home improvement project
  • You don't have sufficient equity in your home
  • Trade-off: Interest rate can be slightly higher than home equity options

Apply Now

Or Call 1-800-561-9433

  1. 1 Rates are based on an evaluation of credit history, combined loan-to-value ratio, loan term, and occupancy, so your rate may differ. Not all applicants will qualify for the displayed lowest rates. The term is 25 years, consisting of a 10-year draw period with interest-only payments followed by a 15-year repayment period with principal plus interest, which may increase your monthly payments. The Introductory Annual Percentage Rate (APR) of 5.99% is for new Home Equity Lines of Credit only and is for the first six months. HELOC modifications, renewals and increases that utilize the same property are not considered new and are not eligible for the introductory rate. To receive the Introductory rate, a draw of at least $10,000 must be made within 30 days of account opening. After the introductory rate expires, balances will be charged at the variable APR based upon the Prime rate as published in The Wall Street Journal plus a margin. The APR will never be lower than 3.75% or higher than 18%. The stated rate, correct as of July 1, 2024, applies to borrowers with credit scores of 730 or greater, CLTV 80% or less, and owner-occupied single-family residences. Elements Financial will conditionally waive the following Closing Costs associated with your home equity line of credit: flood certification, title search or title abstract, credit report, recording fees, and a simple valuation. You may be required to pay other costs such as taxes, and when required, appraisal fees. However, if you close your home equity line of credit within 36 months after it is opened, you will be required to pay an Early Closure Fee in the amount of the Closing Costs originally waived. These costs vary by state and property type. Elements Financial reserves the right to modify or end this offer at any time. Additional terms and conditions may apply. Subject to credit approval. Elements Financial Membership Required.